USDC actively expands overseas markets, partners with Airtm for cross-border payment services.

USDC has been actively trying to regain its market share recently. In addition to allowing the exchange Coinbase to invest and establish a closer partnership, they have also joined hands with Airtm to launch USDC cross-border payment services for businesses in Latin America, South Asia, and Africa.

Airtm is a P2P Digital Currency Service Platform

Airtm is a platform dedicated to P2P digital currency services. Its mission is to connect emerging economies with global markets, eliminate borders, and reduce costs. Airtm operates in over 190 countries globally and has hundreds of thousands of active users monthly.

Airtm currently supports hundreds of enterprise clients in processing millions of payments every month. Most of Airtm's clients are not in the cryptocurrency or blockchain space, including non-profit organizations, artificial intelligence companies, and gaming platforms, among others.

Airtm has received investment from Circle Ventures and holds an MSB license from FinCEN in the United States.

Airtm Fully Embraces USDC

Airtm's newly launched enterprise payment service allows businesses to instantly send or receive payments from over 100 countries/regions without the need for foreign exchange or local bank connections. Payments are sent in the form of USDC via Stellar's decentralized network to each recipient's Airtm wallet, where users can seamlessly transfer to the local currency by connecting with local payment providers. Airtm currently offers over 400 payment connections.

Additionally, businesses previously using Circle's infrastructure to connect USDC can seamlessly fund spending and deposits on Airtm. Airtm claims an average transaction time of 6 minutes and peer-to-peer fees below 5%.

While USDC issuer Circle claims to be the most compliant stablecoin issuer in the U.S., its market share continues to decline, dropping from a peak of $55.8 billion last June to $25.8 billion today, far below the $82.8 billion of its competitor USDT. It seems that while focusing on compliance, expanding into international markets is also crucial.